RECAP
The U.S. dollar firmed on Tuesday, supported by end-of-month positioning and fresh indications that the Trump administration intends to soften the impact of auto tariffs. An executive order to that effect was signed the previous evening.
These developments helped the greenback advance, even as broader economic indicators reflected strain.
Consumer confidence slid to a five-month low, with concerns over tariffs weighing on the public’s economic outlook. At the same time, job openings dropped to their lowest level since September, highlighting diminished labour market demand, also linked to trade tensions.
President Donald Trump reignited his ongoing criticism of Federal Reserve Chair Jerome Powell, asserting once more that he possesses superior knowledge of interest rate policy.
Elsewhere, the Australian dollar strengthened after first-quarter inflation came in at 0.9%, surpassing expectations. Nevertheless, markets remain confident that a 25 basis point rate cut is likely at the Reserve Bank of Australia’s next meeting in
May.
